[Weekly Compilation of Presidential Documents Volume 42, Number 14 (Monday, April 10, 2006)]
[Pages 629-630]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

April 1, 2006

    Good morning. As tax day approaches later this month, many American 
families are now finishing their tax returns. And as you do, an 
important debate is taking place in Washington that will affect the 
amount you will pay in the years ahead.
    I believe our economy grows when you're allowed to keep more of your 
hard-earned money and make your own decisions about how to save, spend, 
and invest. So, working with Congress, we've provided tax relief for all 
Americans who pay income taxes. We lowered tax rates to let workers keep 
more of their paychecks. We doubled the child tax credit and reduced the 
marriage penalty, and we put the death tax on the road to extinction. We 
also cut taxes on dividends and capital gains and expanded incentives 
for small businesses to invest so they could grow and create new jobs.
    Since 2001, the tax relief we delivered has left $880 billion in the 
hands of American workers and small businesses and families like yours, 
and you've used that money to help produce more than 4 years of 
uninterrupted economic growth. Last year, our economy grew at a healthy 
3.5 percent, faster than any other major industrialized nation.
    One politician in Washington said in 2003 that our tax cuts were 
``ruining our economy and costing us jobs.'' The truth is that since 
August 2003, America has added almost 5 million new jobs. Our 
unemployment rate is now 4.8 percent--lower than the average of the 
1970s, 1980s, and 1990s. Real after-tax income is up 8 percent per 
person since the beginning of 2001. More Americans now own their own 
homes than at any time in our history, and minority homeownership is at 
record levels. Consumer confidence is at its highest level in nearly 4 
years. Productivity has grown strongly over the past 5 years, and our 
small-business sector is thriving.
    The evidence is overwhelming: The opponents of tax cuts were wrong. 
Tax relief has helped to create jobs and opportunities for American 
families, and it's helped our economy grow. By maintaining our progrowth 
economic policies and practicing spending restraint in Washington, we 
can keep our economy growing and stay on track to meet our goal of 
cutting the budget deficit in half by 2009.
    The problem is that the tax relief we passed is set to expire over 
the next few years. Some Democrats in Washington are insisting that we 
let that happen--or even repeal the tax cuts now. In either case, that 
would weaken our economy and would leave American families with a big 
tax hike that they do not

[[Page 630]]

expect and will not welcome. Because America needs more than a temporary 
economic expansion, we need more than temporary tax relief. To keep our 
economy growing, to keep our businesses investing, and to keep creating 
jobs, we need to ensure that you keep more of what you earn. So Congress 
needs to make the tax relief permanent.
    Making tax relief permanent includes extending the tax cuts on 
dividends and capital gains. These tax cuts have been vital to our 
economic growth. By lowering the cost of capital, this tax relief has 
given businesses an incentive to invest and expand, and that has helped 
create jobs and opportunity. I urge the Congress to extend these 
progrowth tax cuts, so our businesses can plan with confidence and keep 
creating jobs for American workers.
    The debate in Congress over taxes ultimately comes down to this: Who 
knows best how to use your money, politicians in Washington or you? I 
believe the money we spend in Washington is your money, not the 
Government's money. I trust you to make the best decisions about what to 
do with your hard-earned dollars, because when you do, your family is 
better off, our economy grows, and prosperity and opportunity spread 
throughout our great land.
    Thank you for listening.

Note: The address was recorded at 9:15 a.m. on March 31 at the LeBlanc 
Spa and Resort in Cancun, Mexico, for broadcast at 10:06 a.m. on April 
1. The transcript was made available by the Office of the Press 
Secretary on March 31 but was embargoed for release until the broadcast. 
The Office of the Press Secretary also released a Spanish language 
transcript of this address.